Company Name: Gainesville Coins
Owners: Michael Yaffe (President)
Location: Lutz, FL 33549
Better Business Bureau: Accredited Business since 11/16/2006. Click Here to Read the BBB Report
BBB Rating: A+ (as of April 2016)
Business Consumer Alliance: Company not rated. Click Here to Visit the BCA site.
BCA Rating: Not Rated (as of April 2016)
Trustlink: Not Yet Rated. Click Here to see Company Report in Trustlink.
Trustlink Star Rating: Not Rated (as of April 2016)
Yelp: 11 Reviews as of April 2016. Click Here to Read Company Report
Yelp Rating: 3 of 5 stars (as of April 2016)
The Ripoff Report: No reports (as of April 2016) Click Here to Visit the Ripoff Report.
16 complaints with BBB in last 3 years, as of April 2016
Not rated on the BCA or Trustlink as of April 2016
11 reviews on Yelp as of April 2016
Gainesville Coins video
BBB: Rating of A+, 0 complaints
Read the review of Regal Assets here.
See the reviews of the other top gold and silver dealers. Read those reviews here.
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Precious Metals IRA
Which Metal Should You Invest In?
A US Dollar based retirement savings account is not as advantageous for an investor at this time as it was in the past given that the value of the dollar falls every year due to inflation and there is an increased potential for a large fall in a financial crisis. In fact, the potential for deterioration in the value of the currency is worrisome to many if you live in the United States and you plan to retire there. Many investors opt to create a precious metals IRA as well to protect their accumulated wealth.
A precious metals IRA is a type of individual retirement account (IRA) where precious metals such as gold or silver are owned and held in the retirement account instead of paper currency backed assets. A self-directed IRA is set-up for this, which provides the investor the flexibility to select from a variety of potential investments for the account, including gold and silver. As such, it is advantageous for an investor to know the different types of precious metals that can be held in a precious metals IRA.
Get Your Copy of the Investment Guide
Among the precious metals, gold is the most popular investment for an IRA. As such, a “gold IRA” is used as another term for a retirement account holding a precious metal. By investing in gold, you can reap the benefits of liquidity, purchasing power protection and diversification.
History shows that gold has long served as money. This precious metal can easily be converted into cash or goods. Due to the liquidity of this asset, it is usually easy to sell gold.
Most investors also use gold to diversify the risk in their portfolio. Since this asset is not affected by interest rate changes as much as stocks and bonds, gold is often used as a long-term store of value.
Gold is much more expensive that silver on a per ounce basis. Because of the high price of gold, not everyone invests in it. Silver is a great alternative to that precious metal. Its lower price point per ounce makes it easier to acquire for many investors.
While silver was pushed to a low price in late 2014, it is times like that that present an opportunity for greater profit in the future. You want to buy low. In fact, silver has at times increased three to four times in price during several bull markets.
Also, an investor typically won’t have any problems liquidating silver investments. Many industries widely use silver. The industrial demand for silver stays steady and strong.
Platinum and Palladium
With the inclusion of these two metals as possible precious metal investments since 1997, people now have more choices for their IRA. These two metals are primarily used for industrial applications. Thus, the steady demand coupled with the scarcity of the metals gives investors another opportunity to earn long-term profits.
Platinum and Palladium are both traded in the exchange traded funds market on several exchanges such as the New York Stock Exchange and the London Stock Exchange. Throughout the past decade their prices have increased – with sometimes great volatility. They too can make a good long-term investment holding in a self-directed IRA.
Precious Metals IRA Summary
Although there are other metals available in the market, the Internal Revenue Service (IRS) only allows these four precious metals to be placed in an individual retirement account. An investor can only use precious metals that are in the form of coin and bar products as approved by the IRS.
With the volatile conditions in the economy, a diversified portfolio is a prudent approach. A gold IRA can serve to protect against the risks and uncertainties of the financial markets. Through a precious metals IRA, you are ensured that your retirement account is better able to withstand market downturns or unforeseen events.